Unleashing Saudi Arabia's Potential, HRH the Crown Prince Launches National Biotechnology Strategy to Establish the Kingdom as a Global Biotech Hub
Riyadh, January 25, 2024, SPA -- In a significant move towards achieving Vision 2030, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al-Saud, Crown Prince, Prime Minister of the Kingdom of Saudi Arabia, has launched the National Biotechnology Strategy, a comprehensive roadmap designed to enhance the Kingdom's position as a leader in the sector. The strategy is a key enabler that will strengthen national health resilience and promote growth in the fast-growing biotechnology sector. Today, a document was released that outlines the vision for what is possible with the power of biotechnology and the steps that will be taken to harness its potential.
The National Biotechnology Strategy works to address challenges and seize opportunities in a rapidly growing sector, serving as a roadmap for becoming a global leader in biotechnology by 2040. The strategy focuses on enhancing the health and well-being of Saudi citizens, stimulating economic growth, creating skilled job opportunities, and attracting investments to foster new industries, all while promoting a sustainable environment and contributing to Vision 2030.
With the ambition of becoming the biotechnology leader in the MENA region by 2030 and a major international biotechnology hub by 2040, the National Biotechnology Strategy will build on the Kingdom’s existing strengths including access to robust capital, large market, government commitment and a unique gene pool, to advance its capabilities across four strategic plays: vaccines, bio-manufacturing & localization, genomics, and plant optimization.
The Kingdom recognizes the importance of vaccines and is committed to developing innovative vaccine technologies. By localizing vaccine manufacturing, the strategy aims to increase the Kingdom's self-sufficiency and ensure timely access to vaccines for its citizens. Localization and biomanufacturing play a vital role in driving the strategy forward, as Saudi Arabia aims to establish itself as the primary biotechnology hub in the MENA region. Developing advanced biopharma manufacturing capabilities and establishing a cutting-edge local end-to-end bio-manufacturing platform are crucial steps. These endeavors contribute to the availability of life-saving treatments, strengthen the domestic biotechnology industry, and solidify the Kingdom's position as a significant player in the global biotechnology landscape. Genomics is a disruptive field and the next frontier of medicine, and the Kingdom aspires to become the leading genomics player in MENA, driving innovation and improving health and wellbeing outcomes for its citizens and beyond. The National Biotechnology Strategy also contributes to strengthening food security and sustainable agricultural productivity through plant optimization. By leveraging biotechnology, the strategy aims to reduce reliance on food imports and enhance domestic production, ensuring a more sustainable and self-sufficient food supply.
The evolution of a mature and functional biotechnology ecosystem in Saudi Arabia will be enabled by a set of initiatives that systematically address barriers across talent, regulation, funding, and infrastructure. With a robust pipeline of programs and initiatives, the strategy will catalyze the growth of Saudi Arabia’s biotechnology sector and unify efforts in the ecosystem, creating high quality jobs by 2030, and exciting opportunities for investors and biotechnology talent. This strategy marks a significant milestone for Saudi Arabia in becoming a major player in the regional and global biotechnology sector. It aims to contribute 3% of non-oil real GDP by 2040, thereby helping to deliver economic diversification. Through the successful implementation of this strategy, the Kingdom will establish a leading biotechnology hub that drives innovation, job creation, and economic growth.
-- SPA
